Bitcoin Price Analysis and Short Term Forecast: June 6, 2018
The video provides a look at three indicators and technical analysis methods used to evaluate price trend and strength. It seems $BTC is shaping up for a hard decision over the coming weeks or months within a falling wedge of a breakout to the upside (re-igniting the bull trend back to $20k) or downside (breaking through 2018 lows of $6k).
For those of the listeners and readers who aren't familiar with the NVT Ratio and its relation to the current price action, I have include a link to my article:
hackernoon.com/mathe...fishing-e3a615747dd5
The article walks you through the details and why the fundamentals are important to take into consideration for future price action.
For those of the listeners and readers who aren't familiar with the NVT Ratio and its relation to the current price action, I have include a link to my article:
hackernoon.com/mathe...fishing-e3a615747dd5
The article walks you through the details and why the fundamentals are important to take into consideration for future price action.
NVT Ratio as of June 8, 2018 = 18.27
5 day average NVT Ratio, ending June 8, 2018 = 20.49
This is very good progress in closing $BTC's NVT Gap to an acceptable level, i.e. between 10 and 20. This pattern will need to continue and strengthen over the coming days/weeks as the price breakout showdown approaches within the $BTC falling wedge.